From Our Special Correspondent
Daijiworld Media Network - Bangalore

Bangalore, Dec 20: Karnataka will shortly unveil a new textile policy 2013-18 to attract investment in the textile sector during the Global Investors’ Meet to be held in 2014.

Addressing the Industry Meet of Technotex 2012 in Bangalore on Thursday, the State Chief Secretary S V Ranganath said the State Government would come out with new policy early next year to give various incentives textile entrepreneurs.

He pointed out that the Textile Policy 2008-2013, which will end next year, has attracted investment of about Rs 5,000 crore in the sector so far, he said.

The Chief Secretary explained that the new policy would be improved version compared to the present textile policy and it aimed at increasing the competitiveness in the sector.

There were 72 registered technical textile manufacturing units in the State, he said.

The State Government would be partner in hosting the Technotex 2013 at Pragati Maidan in New Delhi from January 17 to 19.

The first technotex was held in Mumbai in 2011.

The State would showcase its products and technology in the sector during the exhibition, Ranganath said.

Karnataka’s Textile Commissioner D A Venkatesh said the new textile policy would be formulated after consultations with all stakeholders in the State.

He sought Centre’s intervention to grant capital subsidy for establishment of industries in the State and hike import duty to reduce import of materials.

Union Ministry of Textiles Secretary Kiran Dhingra said the exhibition would be jointly organised by the Ministry of Textiles, and Federation of Indian Chambers of Commerce and Industry (FICCI).

The exhibition would become a flagship platform for the Indian technical textile industry to showcase its capabilities, strength and opportunities to the global textile community, he added.